American medical technology company GE HealthCare has agreed to acquire global artificial intelligence (AI) solutions and medical imaging analysis provider MIM Software.

The acquisition, whose financial details were not disclosed publicly, will be funded by GE with cash on hand.

MIM Software provides solutions to practice radiation oncology, molecular radiotherapy, diagnostic imaging, and urology at imaging centres, hospitals, speciality clinics, and research organisations around the world.

The medical technology firm plans to use MIM’s imaging analytics and digital workflow capabilities across a range of care areas. The company plans to boost innovation and support patients and healthcare systems worldwide.

GE HealthCare president and CEO Peter Arduini said: “We are committed to providing comprehensive, connected devices and digital solutions that enable providers to improve patient care across multiple specialities.

“We expect our efforts to bring these two complementary organizations and innovative product portfolios together to strengthen our capabilities as a leading provider of integrated imaging systems, analytics, and advanced digital workflows across several care areas and pathways – including Theranostics, radiation oncology, urology, neurology and cardiology. Now and in the future, we are working to transform patient care.”

According to GE, MIM Software’s imaging solutions portfolio can integrate diagnostic images from multiple modalities into treatment plans.

The solutions also have automation capabilities to lower repetitive tasks and manual interventions.

MIM Software also offers quantitation and advanced processing in diagnostic imaging and nuclear medicine to find the response of the therapy.

The medical imaging analysis provider also has a platform to support Theranostics imaging and dosimetry.

GE HealthCare plans to integrate MIM Software solutions into its advanced visualisation offerings to support AI-based segmentation and contouring as well as dosimetry analysis.

MIM Software CEO Andrew Nelson said: “We are excited by the prospect of joining GE HealthCare and thrilled to share this exciting news.

“Over the past two decades, we have worked to develop innovative vendor-agnostic products and deliver quality services to earn the trust of our customers – this will not change.”